I have just been advised by my estate agent that my Kensington lawyer is not on the lender Conveyancing panel. What can I do to be certain if this is indeed the case?
Your first step should be to contact your Kensington conveyancer. You lawyer should inform you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
We're in Kensington, First time buyers purchasing with a mortgage (lender is Santander , and our lawyer is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My wife and I are planning on selling our home in Kensington and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any high street Kensington conveyancer would know this is not the case. For the life of me I don't know why the purchasers are using a web based conveyancing firm as opposed to a conveyancing solicitor in Kensington. We have lived in Kensington for six years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I decided to have a survey completed on a property in Kensington in advance of appointing solicitors. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some lenders may not grant a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Kensington. Conveyancing may be slightly more expensive based on your lender's requirements.
I am a negotiator for a reputable estate agent office in Kensington where we see a number of leasehold sales derailed as a result of short leases. I have received contradictory information from local Kensington conveyancing firms. Can you confirm whether the owner of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Kensington. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Kensington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Kensington flat is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case related to 1 flat. The remaining number of years on the lease was 37.79 years.
My wife and I are selling a Kensington ground floor flat we inherited 5 years ago in 2009. I have over 15 years conveyancing knowledge and, now retired, intend to do the conveyancing. The purchaser's conveyancer has informed me that their Lenders will not allow you to do your own conveyancing requiring the funds to be released via a solicitor's bank account.
Lending requirements to lawyers from all mainstream lenders state that If the vendor does not have legal representation the buyer’s lawyers should check whether the lender needs to be told so that a decision can be made as to whether they are willing to proceed.